Categories: Technical analysis

EURUSD Wave Analysis – 7 January, 2022

• EURUSD reversed from key support level 1.1265

• Likely to rise to resistance level 1.1380

EURUSD currency pair recently reversed up from the key support level 1.1265 (lower boundary of the sideways price range from the middle of December).

The upward reversal from the support level 1.1265 started the active short-term impulse waves C.

Given the rising euro bullishness seen today – EURUSD currency pair can be expected to rise further toward the next resistance level 1.1380 (upper boundary of the aforementioned sideways price range).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

Share
Published by
The FxPro Tech Analysis Team
Tags: EURUSD

Recent Posts

Adobe Wave Analysis 3 May 2024

- Adobe reversed from support zone - Likely to rise to resistance level 500.00 Adobe…

22 hours ago

EURGBP Wave Analysis 3 May 2024

- EURJPY reversed from support zone - Likely to rise to resistance level 0.8625 EURGBP…

22 hours ago

How Low Can the USDJPY Go?

USDJPY was slipping below 153 on Friday morning, a three-week low and having lost over…

1 day ago

Bitcoin’s Downtrend, Solana and Ethereum Form Double Bottom

Market picture  Crypto market capitalisation rose 3.3% in 24 hours to $2.22 trillion. Local capitalisation…

1 day ago

EURJPY Wave Analysis 2 May 2024

- EURJPY under strong bearish pressure - Likely to fall to support level 163.10 EURJPY…

2 days ago

WTI crude oil Wave Analysis 2 May 2024

- WTI broke round support level 80.00 - Likely to fall to support level 76.00…

2 days ago

This website uses cookies